October 1, 2011

Max Checking Rate Changes to 3%

The U.S. and West Michigan economy continue to suffer from uncertainty. Although there have been glimmers of a recovery, we continue to see high unemployment and slow job growth. As a result, the Federal Reserve recently announced plans to keep interest rates low for the next two years. While this is great news for those looking to borrow, it means continued low rates on deposit accounts. Given the current rate environment, we are lowering the Max Checking interest rate to 3.00% APY* effective October 1, 2011.

Since Max Checking launched in July 2007, there has only been one change to the interest rate in the previous four years. And during that time there has never been a change to the other features, benefits or requirements of the Max Checking account. LMCU remains focused on delivering you, the members, the best value in banking, and at 3%, Max Checking continues to be an exceptional value!

*APY = Annual percentage yield. Rate and terms subject to change. Some restrictions apply. Rates collected from individual financial institutions’ websites on 9/16/11.

11 comments:

Jon & Betsi Andreasen said...

LMCU is still the best place to keep your money!

Meyer said...

Sad to see it drop, but it's still infinitely better than any bank.

Anonymous said...

I'm still thankful for 3%! LMCU is the best.

Anonymous said...

Just keep the ATM surcharge reimbursement and I will never close my account!

Anonymous said...

LMCU always puts their members first! I appreciate the value LMCU places in keeping their members happy.

Anonymous said...

3% is better than any bank right now.

Anonymous said...

Agree with these comments!

Anonymous said...

Ok, had a feeling this was coming!
LMCU is still the best credit union around.
LMCU, to offset this change, would you be able to please increase the maximum to receive yield on Max Checking Account from $15,000 to $20,000 ?
Thank You.

Anonymous said...

Does that mean that they will then lower my mortgage by 1% as well? I doubt it.

LMCU said...

Mortgage rates are near all-time lows. It might make sense for you to talk to one of our mortgage representatives.

Anonymous said...

I would like to see an increase in the $15,000 limit.

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